Longitude Cayman Ltd. Has $445,000 Position in Shake Shack Inc. (NYSE:SHAK)

Longitude Cayman Ltd. decreased its holdings in Shake Shack Inc. (NYSE:SHAKFree Report) by 90.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,000 shares of the company’s stock after selling 54,000 shares during the period. Longitude Cayman Ltd.’s holdings in Shake Shack were worth $445,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 12 West Capital Management LP increased its position in shares of Shake Shack by 82.2% during the 3rd quarter. 12 West Capital Management LP now owns 1,659,600 shares of the company’s stock worth $96,373,000 after purchasing an additional 748,789 shares in the last quarter. Van Berkom & Associates Inc. increased its holdings in shares of Shake Shack by 19.3% during the third quarter. Van Berkom & Associates Inc. now owns 1,046,339 shares of the company’s stock worth $60,761,000 after buying an additional 168,947 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Shake Shack by 130.0% during the third quarter. Qube Research & Technologies Ltd now owns 436,888 shares of the company’s stock worth $25,370,000 after buying an additional 246,952 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Shake Shack by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 309,641 shares of the company’s stock valued at $22,951,000 after acquiring an additional 12,362 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Shake Shack by 31.4% in the 4th quarter. Principal Financial Group Inc. now owns 263,256 shares of the company’s stock worth $19,513,000 after acquiring an additional 62,897 shares in the last quarter. 86.07% of the stock is owned by institutional investors.

Insider Transactions at Shake Shack

In other Shake Shack news, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $108.05, for a total value of $32,847.20. Following the transaction, the director now owns 4,058 shares of the company’s stock, valued at $438,466.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Jeffrey Flug sold 304 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $108.05, for a total value of $32,847.20. Following the sale, the director now directly owns 4,058 shares of the company’s stock, valued at approximately $438,466.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel Harris Meyer sold 40,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $106.34, for a total transaction of $4,253,600.00. Following the completion of the transaction, the director now directly owns 480,437 shares of the company’s stock, valued at $51,089,670.58. The disclosure for this sale can be found here. Insiders have sold a total of 70,608 shares of company stock valued at $7,321,361 over the last 90 days. 10.06% of the stock is owned by company insiders.

Shake Shack Trading Down 2.3 %

Shares of SHAK stock traded down $2.30 on Friday, reaching $99.16. The company had a trading volume of 483,083 shares, compared to its average volume of 851,395. The company has a 50-day moving average of $102.29 and a 200-day moving average of $83.71. Shake Shack Inc. has a 12 month low of $52.79 and a 12 month high of $111.29. The stock has a market cap of $4.20 billion, a PE ratio of 180.29, a PEG ratio of 4.91 and a beta of 1.78. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 0.52.

Shake Shack (NYSE:SHAKGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $290.50 million during the quarter, compared to analyst estimates of $291.00 million. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) EPS. On average, equities analysts forecast that Shake Shack Inc. will post 0.74 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on SHAK. Oppenheimer lifted their price objective on Shake Shack from $108.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. TD Cowen reissued a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their target price on shares of Shake Shack from $100.00 to $102.00 and gave the stock an “underweight” rating in a research note on Monday, May 13th. BTIG Research upped their target price on shares of Shake Shack from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Truist Financial raised their price target on shares of Shake Shack from $115.00 to $124.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $98.35.

Read Our Latest Report on SHAK

Shake Shack Company Profile

(Free Report)

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.

Further Reading

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Institutional Ownership by Quarter for Shake Shack (NYSE:SHAK)

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